Question

. An Automated Clearinghouse (ACH) system is handled by operators. The primary operator of the system...

. An Automated Clearinghouse (ACH) system is handled by operators. The primary operator of the system is (are):

a. Brokerage firms     b. The FDIC     c. The Federal Reserve Bank System

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Answer #1

Ans: c. The Federal Reserve Bank System

Explanation:

The automated clearinghouse (ACH) system is a countrywide system in USA through which bank organizations send batches of electronic debit and credit transfers to each other. The Reserve Banks of Federal Reserve Bank System and Electronic Payments Network (EPN) are the two main national ACH operators in the country. As an ACH operator, the Reserve Banks accept files of payments associated with ACH from generating depository financial institutions. The Reserve Banks and EPN trust on each other to process interoperated payments of ACH. Thus, the Primary Operator of the System is The Federal Reserve Bank System.

So, our answer option is “c) The Federal Reserve Bank System”.

Ans: c. The Federal Reserve Bank System.

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